PTMS Version 3.4 Released

San Diego, California – July 28, 2005

Tax Compliance, Inc. has announced the release of Property Tax Management System (PTMS) version 3.4, which includes a completely redesigned, comprehensive real property tax module. New PTMS real property features enable corporate tax departments to easily establish the fair market value of their property, manage appeals, track the productivity of their property tax consultants, create and accrue tax estimates and process their property tax bills. By combining the robust functionality of its new real property tax module with the proven personal property tax functionality of PTMS, TCI has created a versatile and affordable property tax software solution for both personal and real property tax management. PTMS offers user-controlled in-house and remote access and is also available on an outsource basis through any of the more than thirty property tax outsource providers that use PTMS as their production tool.

PTMS v3.4 provides a variety of options for determining fair market value for real property. Commercially available data on an unlimited number of comparable properties (comps) can be linked to a parcel, allowing the user to compare and analyze property values on a per unit basis —e.g., building value in dollars per square foot, land value in dollars per acre, etc. In addition, PTMS displays the assessor’s current assessment of property value along with a multi-year tax history to identify possible overvaluations by the assessor.

A sophisticated appeal management tool has also been included in PTMS v3.4. To facilitate the supervision of each appeal, PTMS tracks every step of the process from initial assessment to final determination of value. Users can check the progress of any appeal with instant access to its detailed history, including all related notes, attachments, changes in valuation, and critical follow-up dates for each stage of the process. Appeals are linked to the PTMS Tax Calendar to ensure appeal due dates are not missed.

The tax estimate and accrual functionality has been greatly enhanced in PTMS v3.4. Tax estimates are calculated based on the user’s opinion of value or the prior year’s final value. Each estimate is segmented to accommodate the unique preferences of each company. When a tax bill is processed, PTMS reconciles the accrued tax estimate with the actual tax amount and automatically makes any necessary adjustments.

“PTMS version 3.4 brings a dramatic enhancement in real property tax functionality to the tax community. Companies finally have access to a comprehensive, user-friendly real and personal property tax software system that not only gives them complete control over their entire property tax process, but does so at a very affordable cost,” said Scott Strauss, Executive Vice President of Tax Compliance, Inc.

Our applications support the entire compliance life cycle, shedding inefficiencies and improving a compliance department’s ability to strategically use data to increase profitability and reduce risk, and are supported by our parent company, Corporation Service Company (CSC), a business, legal, and financial services provider.

To learn more about how we’re is helping compliance professionals thrive, visit www.taxcomp.com.